1. goto http://www.domainscrub.com
2. search for your favorite typo domains of sites you think are high volume (for e.g. cnn, cricinfo,cricketworldcup)
3. goto 1and1.com reserve the domains for 3$ a piece
4. park it with parking companies like namedrive.com/sedo.com (http://www.circketworldcup.com is example)
5. alternatively create mini-sites and host with dreamhost (110$ a year) use the code quick97 to get 97$ off the first year
6. make $$$$ as traffic of typos starts hitting your site

KEY need high volume traffic to make big dollars. Richard Ham is the guru of typos, google him